I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.

If you own the only newspaper in town, up until the last five years or so, you have pricing power and you didn't have to go to the office.

I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.

I think any time you couple the term "Wall Street" with "bailout" or something like that, you know - I don't like what's going on in Wall Street.

Wide diversification is only required when investors do not understand what they are doing.

Benign neglect, bordering on sloth, remains the hallmark of our investment process.

When forced to choose, I will not trade even a night's sleep for the chance of extra profits.